BeiGene reports Q2 EPS (28c), consensus ($2.81)

Reports Q2 revenue $554M, consensus $519.08M. Reports Q2 loss ($3.64) per American Depositary Share, or ADS, compared to ($5.50) per ADS in the same period of 2022. Cash, Cash Equivalents, Restricted Cash, and Short-Term Investments were $3.5B as of June 30, and $4.5B as of December 31, 2022. “Our strong Q2 results highlight the continued execution of our global commercial teams and the success of our two cornerstone medicines, BRUKINSA and tislelizumab. As demonstrated by the growing prescriber use for patients with CLL, BRUKINSA is becoming the BTK inhibitor of choice, driven by compelling efficacy and safety data across indications, including superiority versus IMBRUVICA in relapsed/refractory CLL,” said John V. Oyler, Co-Founder, Chairman and CEO at BeiGene. “Our robust pipeline, highlighted at our recent investor R&D Day and fueled by one of the largest and most productive oncology research teams in the industry, will continue to drive our short- and long-term growth as a science-based organization, and allow us to fulfill our mission of providing innovative cancer medicines and improving treatment options for more patients around the world.”